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Leases (Tables) | 12 Months Ended
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Jan. 01, 2022
Leases [Abstract] |
Components of lease expense | The components of lease expense are as follows:
(In thousands) |  | January 1, 2022 |  | January 2, 2021 |  | December 28, 2019 |  |  |  |
Operating Lease Cost |  | $ | 5,895 |  |  | $ | 5,602 |  |  | $ | 5,534 |  |  |  |  |
Short-Term Lease Cost |  | 674 |  |  | 671 |  |  | 715 |  |  |  |  |
Finance Lease Cost: |  |  |  |  |  |  |  |  |  |
ROU asset amortization |  | 1,045 |  |  | 1,157 |  |  | 1,213 |  |  |  |  |
Interest on lease liabilities |  | 46 |  |  | 74 |  |  | 94 |  |  |  |  |
Total Finance Lease Cost |  | 1,091 |  |  | 1,231 |  |  | 1,307 |  |  |  |  |
Total Lease Costs |  | $ | 7,660 |  |  | $ | 7,504 |  |  | $ | 7,556 |  |  |  |  |
Supplemental cash flow information related to leases is as follows:
(In thousands) |  | January 1, 2022 |  | January 2, 2021 |  | December 28, 2019 |  |  |  |
Cash Paid for Amounts Included in the Measurement of Lease Liabilities: |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 12,474 |  |  | $ | 5,782 |  |  | $ | 5,636 |  |  |  |  |
Operating cash flows from finance leases |  | $ | 46 |  |  | $ | 74 |  |  | $ | 93 |  |  |  |  |
Financing cash flows from finance leases |  | $ | 1,044 |  |  | $ | 1,139 |  |  | $ | 1,144 |  |  |  |  |
ROU Assets Obtained in Exchange for Lease Obligations (a): |  |  |  |  |  |  |  |  |  |
Operating leases |  | $ | 7,247 |  |  | $ | 2,560 |  |  | $ | 28,484 |  |  |  |  |
Finance leases |  | $ | 1,147 |  |  | $ | 622 |  |  | $ | 3,847 |  |  |  |  |
(a)Included in 2019 were additions related to the transition adjustment for the adoption of ASC 842. The post-adoption additions of operating leases were $13,167,000, of which $10,994,000 related to ROU assets obtained as part of the acquisition of SMH in 2019. The post-adoption additions of finance leases were $2,496,000, of which $528,000 related to ROU assets obtained as part of the acquisition of SMH.
Supplemental balance sheet information | Supplemental balance sheet information related to leases is as follows:
(In thousands) |  | Balance Sheet Line Item |  | January 1, 2022 |  | January 2, 2021 |  |  |  |
Operating Leases: |  |  |  |  |  |  |  |  |  |
ROU assets (a) |  | Other current assets |  | $ | 2,341 |  |  | $ | — |  |  |  |  |
ROU assets |  | Other assets |  | 24,998 |  |  | 25,460 |  |  |  |  |
Total operating lease assets |  | $ | 27,339 |  |  | $ | 25,460 |  |  |  |  |
Short-term liabilities |  | Other current liabilities |  | $ | 4,596 |  |  | $ | 4,396 |  |  |  |  |
Long-term liabilities |  | Other long-term liabilities |  | 19,959 |  |  | 22,198 |  |  |  |  |
Total operating lease liabilities |  | $ | 24,555 |  |  | $ | 26,594 |  |  |  |  |
(In thousands) |  | Balance Sheet Line Item |  | January 1, 2022 |  | January 2, 2021 |  |  |  |
Finance Leases: |  |  |  |  |  |  |  |  |  |
ROU assets, at cost |  | Property, plant, and equipment, at cost |  | $ | 4,076 |  |  | $ | 3,707 |  |  |  |  |
ROU assets accumulated amortization |  | Accumulated depreciation and amortization |  | (2,489) |  |  | (2,108) |  |  |  |  |
ROU assets, net |  | Property, plant, and equipment, net |  | $ | 1,587 |  |  | $ | 1,599 |  |  |  |  |
Short-term obligations |  | Short-term obligations and current maturities of long-term obligations |  | $ | 862 |  |  | $ | 915 |  |  |  |  |
Long-term obligations |  | Long-term obligations |  | 748 |  |  | 716 |  |  |  |  |
Total finance lease liabilities |  | $ | 1,610 |  |  | $ | 1,631 |  |  |  |  |
(a) See Note 15, Subsequent Event, for further details.
|  |  |  | January 1, 2022 |  | January 2, 2021 |  |  |  |
Weighted Average Remaining Lease Term (in years): |  |  |  |  |  |  |  |
Operating leases |  | 8.7 |  | 9.4 |  |  |  |
Finance leases |  | 2.1 |  | 2.0 |  |  |  |
Weighted Average Discount Rate: |  |  |  |  |  |  |  |  |  |
Operating leases |  | 3.82 | % |  | 3.88 | % |  |  |  |
Finance leases |  | 2.55 | % |  | 3.52 | % |  |  |  |
Future lease payments for operating lease liabilities | As of January 1, 2022, future lease payments for lease liabilities are as follows:
|  | Operating |  | Finance |  |  |  |
(In thousands) |  | Leases |  | Leases |  |  |  |
2022 |  | $ | 5,379 |  |  | $ | 889 |  |  |  |  |
2023 |  | 4,316 |  |  | 561 |  |  |  |  |
2024 |  | 3,292 |  |  | 178 |  |  |  |  |
2025 |  | 2,727 |  |  | 17 |  |  |  |  |
2026 |  | 2,179 |  |  | 3 |  |  |  |  |
2027 and Thereafter |  | 11,343 |  |  | — |  |  |  |  |
Total Future Lease Payments |  | 29,236 |  |  | 1,648 |  |  |  |  |
Less: Imputed Interest |  | (4,681) |  |  | (38) |  |  |  |  |
Present Value of Lease Payments |  | $ | 24,555 |  |  | $ | 1,610 |  |  |  |  |
Future lease payments for finance lease liabilities | As of January 1, 2022, future lease payments for lease liabilities are as follows:
|  | Operating |  | Finance |  |  |  |
(In thousands) |  | Leases |  | Leases |  |  |  |
2022 |  | $ | 5,379 |  |  | $ | 889 |  |  |  |  |
2023 |  | 4,316 |  |  | 561 |  |  |  |  |
2024 |  | 3,292 |  |  | 178 |  |  |  |  |
2025 |  | 2,727 |  |  | 17 |  |  |  |  |
2026 |  | 2,179 |  |  | 3 |  |  |  |  |
2027 and Thereafter |  | 11,343 |  |  | — |  |  |  |  |
Total Future Lease Payments |  | 29,236 |  |  | 1,648 |  |  |  |  |
Less: Imputed Interest |  | (4,681) |  |  | (38) |  |  |  |  |
Present Value of Lease Payments |  | $ | 24,555 |  |  | $ | 1,610 |  |  |  |  |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
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